Texas Permanent School Fund Corp Decreases Stock Holdings in AAR Corp. $AIR

Texas Permanent School Fund Corp lowered its position in shares of AAR Corp. (NYSE:AIR) by 43.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,192 shares of the aerospace company’s stock after selling 17,281 shares during the period. Texas Permanent School Fund Corp’s holdings in AAR were worth $1,527,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new position in shares of AAR in the second quarter valued at about $26,000. Virtus Advisers LLC purchased a new stake in shares of AAR during the first quarter worth about $47,000. State of Wyoming grew its stake in shares of AAR by 128.5% in the first quarter. State of Wyoming now owns 1,821 shares of the aerospace company’s stock worth $102,000 after purchasing an additional 1,024 shares during the last quarter. Simplex Trading LLC purchased a new position in AAR during the 2nd quarter valued at about $103,000. Finally, Vontobel Holding Ltd. bought a new position in AAR during the 2nd quarter valued at approximately $202,000. Institutional investors own 90.74% of the company’s stock.

Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the completion of the transaction, the chief executive officer owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. This trade represents a 12.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

AAR Stock Performance

Shares of AAR stock opened at $86.18 on Tuesday. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $89.69. The firm has a market capitalization of $3.37 billion, a P/E ratio of 110.49 and a beta of 1.29. The company has a current ratio of 2.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $82.59 and a two-hundred day simple moving average of $77.78.

AAR (NYSE:AIR) last released its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. The firm had revenue of $553.30 million for the quarter. On average, equities analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIR has been the subject of several research analyst reports. Truist Financial increased their price objective on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAR in a research note on Monday, December 15th. Jefferies Financial Group started coverage on shares of AAR in a report on Wednesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Zacks Research lowered shares of AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, KeyCorp raised their target price on shares of AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.